Also I understand on maturity you have to encash the NSC from the same Post Office from where you bought it. Transfers of NSC is not possible / easy as compared to Bank PPF Accounts.
instead of Nsc 5year tax saving FD is better.becose one will get around 8.5%rate of interest there.but only if you have money for that. this borrowing tactis will turn into a nightmare as descrived in this article.
Re: instead of Nsc 5year tax saving FD is better
by Veera on Mar 11, 2011 07:10 PM
But then with FD's you cannot avail loan facility,whereas With NSC,you can avail loan facility,that makes the difference
Govt. is befooling people to pay 8% interest on NSC and PPF etc., whereas on EPF, they are recommending 9.5%, Actually NSC, PPF etc., are self employed peoples instrument to save tax and are purchased normally by lower middle class people, but for our govt. all such citizens are goats to be butchered.
